Posts Tagged ‘Home’
September 11, 2011 | 
Author Write-up by Real Estate Advisor
If you are thinking about buying or selling a residence, condo or any other sort of real estate, you will most most likely want the services of a actual estate appraiser. An appraiser performs an assessment of properties and other kinds of real estate to help establish its value. Even though there are many techniques appraisers use to establish the value of real estate (e.g. price strategy, income method, and comparison strategy), for residential properties, the comparison method (also known as marketplace value) is the most widespread method. The appraiser’s job is to offer an opinion about the value of a property based on its “highest and greatest use.” If you are financing the obtain of a property, your lender will generally demand an appraisal to make confident that the property is really worth the amount loaned.
The real estate appraiser is tasked with carrying out a fully objective assessment of a property and will generally provide a written evaluation report. This is achieved by a physical inspection of the property, as well as a comparison to other comparable properties for which the value is already established. To make a determination about value, the appraiser gathers particulars such as the size of a property, size of the lot, location, condition, ideal use of the property, amenities, and so on.
Right after this initial inspection, the appraiser may scout the neighborhood to compare the property with other similar properties in the neighborhood by age, size, price range, and so on. The appraiser then gathers extra information from several sources such as the local Numerous Listing Services (MLS), which provides info on existing and recent comparable sales. The appraiser also gathers info from his/her own past experience in the neighborhood market. All of these sources of information are taken into consideration while writing the appraisal report, which will supply an estimate about the value of a property.
There are numerous factors to use the services of a qualified appraiser. When buying real estate, an appraisal gives you with a negotiating tool and assists ensure that the cost you are paying is suitable. If you are selling your property, the appraisal will help you establish an appropriate price range. Besides actual estate and mortgage transactions, you might need to have to order an appraisal to lower the tax burden (assuming the value is truly lower than the value established by taxing authorities), to establish the replacement price of insurance, to settle an estate, and so on. An appraiser only provides an estimate of the value of the property. A actual estate appraiser is not to be confused with a residence inspector.
If you are considering buying or selling a property, condo or any other kind of genuine estate, you can use the services of a qualified real estate appraiser who will supply an estimate of the fair marketplace value of your property.
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BD Nationwide Mortgage Provides a Convertible House Equity Line of Credit with Alternatives to Refinance Portions to a Fixed Rate Second Mortgage Loan
Encinitas, CA (PRWEB) August 29, 2006
BD Nationwide Mortgage introduces a wise house equity loan that can separate into numerous loans with each fixed and adjustable rates. BD Nationwide has released a new house equity product that boasts of a convertible residence equity line of credit providing choices for turning variable interest rates into fixed rate second mortgages. BD Nationwide proudly presents the “Fixed Rate HELOC Conversion Program.” This special property equity program allows homeowners to convert portions of their adjustable rate equity line into fixed rate residence equity loans. Yet another important feature is that these second mortgages enable you to keep the unused portion of the house equity line open, even though fixing the interest rate for the specified portion. In that sense, the HELOC splits into two loans. (one loan is a fixed lump-sum loan and the other is an open finish line of credit)
Conversion alternatives are accessible to convert a portion or all of the home equity line balance to a fixed interest rate property equity loan. This program allows you to convert HELOC portions to fixed rate loan eight times during the draw period.
Advances for fixed second mortgage rates can be requested at anytime during the ten-year draw period: Three fixed rate advances may be open at any one time. The conversion feature limits you to a total of eight fixed rate advances might be requested over the draw period. In addition, there are no lending fees to convert to a fixed rate. Loan advance possibilities are based on the balance requested.
Lynda Nelms, a Sr. Loan Officer and Mortgage Consultant at BD Nationwide, stated, “This is a progressive loan that permits my borrowers to be savvy using their residence equity when they see fit, while converting adjustable rate interest into a fixed rate second mortgage with a easy interest amortization.” Nelms continued, “These days I discover homeowners require cash out for debt consolidation or residence improvements, but they already have a large second mortgage.”
The Fixed Rate HELOC Conversion Program enables our clients to refinance and convert their existing line of credit into a fixed rate second mortgage, even though opening up an extra revolving credit line they can access later. This residence equity conversion loan is a wonderful solution for the current dilemma of refinancing jumbo house equity loans that seem to be so frequent with million dollar homebuyers. BD Nationwide Mortgage Company has partnered with many of the nations leading house equity lenders.
Property Equity Line of Credit Draw Period : 10 years
Second Mortgage Rate is a Variable Rate ( WSJ prime interest rate index plus margin)
Residence Equity Loan Terms: 15, 20, 25 or 30-years
Second mortgage rates are fixed interest rates (fixed interest based on industry conditions on the conversion date)
Property Equity Loan Repayment Terms:
Borrower may request a fixed rate advance from the customer care dept. right after the lender funds the loan.
Fixed Rate Advance Alternative: Fixed-rate advance possibilities can initially be requested by loan officer at the time of disclosures.
To find out a lot more and get additional loan info, please visit: Second Mortgage & Property Equity Loans
About BD Nationwide Mortgage Company:
BD Nationwide Mortgage is a second mortgage broker with corporate headquarters in Encinitas, California. They specialize in refinance, home equity loans and credit lines for homeowners searching for debt consolidation or money out. The business focus remains solidified with second mortgages for folks with all varieties of credit. Always striving to offer you “out of the box” loans, BD Nationwide Mortgage is determined to aid expand financing solutions so more Americans can maximize the monetary rewards of becoming a homeowner.
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